Solution Combines Technology, Legal Expertise and Global Labor To Cost Effectively Manage Loan Portfolio Workouts
LOS ANGELES, May 19, 2009 – Integreon, the global leader of knowledge and legal process outsourcing (KPO and LPO), today announced the launch of a comprehensive solution for financial institutions, advisors, real estate operating companies and investors to accelerate the process of evaluating, restructuring, managing and disposing of portfolios of financial assets.
The service combines technology and a global labor force to organize and extract information from legal and financial records to create a coherent database of documents and data, generate business intelligence reports and manage the process with workflow management tools. The result is the lowest cost and fastest way to find key information that enables decision makers to take action. The entire loan workout process from loan file due diligence, loan restructuring to the exercise of remedies and sale of properties can be more effectively managed.
Integreon has partnered with Strategic Legal Systems (SLS) to provide the software and loan workout expertise required to deliver this comprehensive solution. “Our innovative platform automates much of what had traditionally been a plodding manual process, enabling portfolio managers to reduce errors, cut legal and diligence costs by 30 percent and ultimately increase the value of a portfolio,” said Liam Brown, CEO of Integreon. Features of Integreon’s loan restructuring and recovery solution include:
- Collecting, organizing and indexing loan portfolio documents
- Auditing to identify missing documents, signatures pages and exhibits
- Customizable document search reports
- First pass review of title reports, lien searches and other key data
- Integreon attorney-drafted legal summaries for counsel’s review and use
“With the current global financial crisis creating unprecedented waves of portfolio sales, loan workouts and litigation, the market for a better tool to manage legal and financial records could not be stronger. Our offering will help portfolio managers do their jobs more efficiently, with greater records transparency and fewer errors,” Brown added.
“This combination of technology, process and LPO labor enables US attorneys to more effectively deliver value to their clients,” according to Roger Cohen, the Chairman and Founder of SLS. “With the financial crisis, clients are demanding more efficient processes. This combined offering with Integreon will allow us to respond to that demand.”
About Integreon
Integreon provides a range of knowledge support services to professionals, such as research and analytics, legal and financial document services, legal and discovery services, and finance and accounting services, which transform the Middle Office and allow professionals to focus their time and energy on their ‘highest and best use.’ Our customers include the world’s leading financial services institutions, international law firms, and Global 2000 corporations. For more information about Integreon, please visit www.integreon.com.
About Strategic Legal Systems
Strategic Legal Systems (SLS) developed the SmartDigitalVault with it’s legal intelligence engine for managing massive volumes of legal records and meeting today’s complex compliance obligations. The SmartDigitalVault software and standardized processes deliver well-ordered data and business intelligence to those tasked with the workout activities. Our global eco-system connects legal labor with structured financial and legal content, workout professionals and attorneys in an efficient network that helps companies to reduce legal expenses. For more information about SLS, please visit www.SmartDigitalVault.com.